Signed Iconic Beatles Album Auctioned for $290,500

A copy of The Beatles' "Sgt. Pepper's Lonely Hearts Club Band" album autographed by all four band members has shattered expectations at auction.

The iconic album was sold Saturday for $290,500 by Heritage Auctions in Dallas. It had been listed at $30,000 before the sale. The winning bidder was not identified, but The Associated Press reported the rare item had been sold to a person in the Midwest.

The autographs of the band members were obtained in 1967, the same year the record was issued, according to a letter of authenticity posted on Heritage Auctions' website.

Each of the Beatles signed next to his image on the inside spread of the album.

Beatles expert Perry Cox said the piece of memorabilia was "extraordinarily special."

"I consider this to be one of the top two items of Beatles memorabilia I've ever seen - the other being a signed copy of 'Meet the Beatles' [the band's second album released in the U.S.]," he said, according to Heritage Auctions' website.

The album was one of the big draws to Saturday's auctions, which included other entertainment and music memorabilia.